eBay is partnering with 270-year-old auction house Sotheby’s to allow users to livestream auctions of the latter’s collection of fine art and antiques, starting this April.
The new platform will allow eBay users to view and bid on items from Sotheby’s extensive collections during themed events that last a few hours each. About 40 lots will be offered in an hour, and each item will be on sale for only about two minutes at the most.
However, unlike items purchased through eBay’s own auctions with a credit card, you’ll have to pay for your Sotheby’s bids via bank transfer or check.
eBay will kick off auctions on its new platform on April 1, featuring a themed New York sale event that will include art, books, jewelry, tableware and collectibles like the 13 letters of the 1970s Yankee Stadium sign.
The company had planned to allow users to livestream events from auction houses last year, but it looks like it’s taken this long to actually make that happen.
It’ll be interesting to see if the move helps eBay and Sotheby’s bring in new customers. Online art and antiques sales of art and antiques are estimated to have reached $3.5 billion last year, according to the European Fine Art Foundation.
➤ Sotheby’s Live Auctions and Events [eBay via Reuters]
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